If you know me and know how much I love shoes, you would know that I am the kind of person who would buy 12 pairs of shoes in one day. Yes, I said it—12 pairs in one day.
This means there is a high chance I own a pair of TOM’s shoes, which I do, by the way. I love the shoes because it’s beautiful and comfortable. A great combination, right?
But my love for it grew when I learned about its purpose and values.
What are TOM’s purpose and values?
Mission: “For every pair of TOMS shoes purchased online or at retail, the company will provide a pair to a child in need. One for One.”
Vision: “The responsibility of providing for the comfort of children in impoverished regions worldwide.”
Values: “A caring heart, kind, honest and consistent.”
Many brands out there talk about their values, but do they really walk the talk?
TOM’s have put their money where their mouth is. For every pair sold, one is donated. Of course, not all brands have to make the same financial commitment, but if they do talk about any of their values, they might as well try it to make it a little bit believable… by walking the talk.
How brands walk the talk?
Consumers love brands because they have great products and provide them with exceptional experiences. But, consumers also love brands and connect with them even on a deeper level when they share a common purpose.
What are examples of shared purpose?
- Special needs
- Safety & security
- Social rights
- Global warming
- And actually, the list could go on and on…
How does purpose grow the love?
According to Accenture Strategy’s ‘From me to we: The rise of the purpose-led brand,’ their most recent global survey of nearly 30,000 consumers, 62% of global consumers want companies to take a stand on current and broadly relevant issues.”
Besides, brand purpose plays a significant role in building love with not only consumers but also employees.
You see, although there is a shortage of jobs in the market, great talent always has options. The best brands are after them. They have a choice, and if you want to hire and retain the best, your brand values must align with their own values.
A purpose-driven workplace contributes to higher retention rates. According to a survey by the New York Times, “Employees are three times more likely to stay at a purposeful company.”